GPK Options History — May 2020

In May 2020, GPK traded between $12.31 and $14.49. ATM implied volatility averaged 39.7%, placing in the 31.1% IV rank vs the trailing year. The 30-day expected move averaged 10.8%. IV traded below realized volatility by 3.0% (HV 20d: 42.6%). Max pain ranged from $12.50 to $15.00. Net GEX was positive for 0 of 20 trading days. Term structure was in contango for 8 of 20 days. Put/call ratio averaged 3.63.

Notable Days

2020-05-27: Highest Volume — 734 contracts
2020-05-11: Largest IV spike — 86.6% change
2020-05-12: Highest IV Rank — 53.6%
2020-05-21: Largest Expected Move — 11.9%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$13.34	$12.31	$14.49	$13.11	$14.49
Max Pain	$14.88	$12.50	$15.00	$12.50	$15.00
ATM IV	39.7%	30.8%	60.6%	32.6%	34.8%
Expected Move	10.8%	8.8%	11.9%	9.3%	10.0%
HV 20d	42.6%	24.7%	57.0%	43.2%	55.3%
HV 60d	56.3%	54.9%	60.8%	55.4%	55.3%
IV Rank	31.1%	21.5%	53.6%	23.4%	25.8%
IV Percentile	79.3%	57.9%	94.4%	71.0%	75.0%
Term Structure	1.6%	-10.0%	32.7%	27.2%	-2.5%
VWIV	33.3%	15.5%	43.9%	43.9%	34.8%
Skew 25d	11.1%	-5.1%	64.8%	24.0%	0.1%
Skew 10d	19.2%	-4.3%	120.2%	48.3%	0.4%
Call IV 25d	31.0%	18.7%	41.1%	23.7%	34.6%
Put IV 25d	42.1%	28.3%	95.4%	47.7%	34.8%
Bid-Ask Spread %	82.30	26.39	102.73	102.73	85.05
Gamma HHI	0.78	0.58	0.93	0.75	0.75
Net GEX	-94.1K	-199.3K	-43.7K	-61.2K	-179.4K
Net DEX	4.1M	3.0M	5.0M	3.8M	3.0M
Net VEX	-7.6K	-11.8K	-4.4K	-9.8K	-11.8K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	3.63	0.00	29.05	3.44	2.62
Total Volume	169.6	4	734	40	333
Total OI	7,467.25	6,491	8,550	7,610	8,550

Daily Data (20 trading days)

Date	Price	Max Pain	ATM IV	Exp Move	HV 20d	IV Rank	VWIV	Skew 25d	Term Str	GEX	DEX	VEX	P/C	Spread %	Call Vol	Put Vol	Call OI	Put OI
2020-05-01	$13.11	$12.50	32.6%	9.3%	43.2%	23.4%	43.9%	24.0%	27.2%	-61.2K	3.8M	-9.8K	3.44	102.73	9	31	2,803	4,807
2020-05-04	$12.93	$15.00	42.4%	11.7%	35.3%	34.0%	40.2%	13.7%	-2.4%	-62.6K	4.3M	-7.7K	0.65	88.26	17	11	2,809	4,802
2020-05-05	$12.78	$15.00	39.2%	11.2%	27.3%	30.6%	0.0%	3.9%	-1.1%	-61.1K	4.5M	-6.4K	5.50	95.00	2	11	2,812	4,807
2020-05-06	$12.57	$15.00	38.0%	10.8%	27.7%	29.3%	37.5%	4.9%	0.0%	-56.6K	4.7M	-5.8K	0.33	87.34	3	1	2,809	4,813
2020-05-07	$12.89	$15.00	42.1%	11.1%	24.7%	33.7%	0.0%	-1.1%	0.0%	-67.2K	4.4M	-7.0K	2.88	63.22	52	150	2,811	4,814
2020-05-08	$13.53	$15.00	31.2%	11.2%	29.9%	21.9%	28.4%	9.9%	0.1%	-96.1K	3.8M	-8.7K	0.00	93.78	95	0	2,861	4,964
2020-05-11	$13.43	$15.00	58.3%	11.1%	30.1%	51.1%	33.0%	10.4%	0.0%	-83.4K	4.0M	-7.9K	0.00	26.39	12	0	2,808	4,964
2020-05-12	$12.97	$15.00	60.6%	10.3%	32.7%	53.6%	35.8%	10.0%	0.6%	-68.7K	4.6M	-6.0K	0.03	84.68	33	1	2,815	4,964
2020-05-13	$12.31	$15.00	39.1%	11.2%	37.4%	30.5%	37.3%	2.1%	-0.7%	-43.7K	5.0M	-4.4K	0.27	49.92	30	8	2,838	4,965
2020-05-14	$12.84	$15.00	40.3%	11.6%	40.6%	31.8%	37.6%	64.8%	-2.8%	-60.0K	4.6M	-5.7K	12.00	92.08	1	12	2,827	4,963
2020-05-15	$12.64	$15.00	38.6%	11.1%	40.2%	29.9%	38.2%	7.2%	-1.4%	-60.5K	4.7M	-4.8K	0.00	95.97	122	0	2,828	4,964
2020-05-18	$13.73	$15.00	33.4%	9.6%	50.3%	24.3%	29.5%	12.3%	32.7%	-111.0K	4.0M	-7.3K	0.23	81.90	133	31	1,707	4,784
2020-05-19	$13.27	$15.00	38.3%	11.0%	51.8%	29.6%	21.5%	13.9%	-0.5%	-81.4K	4.3M	-6.6K	0.18	78.75	57	10	1,836	4,823
2020-05-20	$13.45	$15.00	39.9%	11.4%	51.9%	31.3%	26.9%	16.7%	-2.7%	-92.0K	4.1M	-7.4K	1.71	79.61	17	29	1,828	4,880
2020-05-21	$13.49	$15.00	41.6%	11.9%	51.8%	33.1%	15.5%	27.1%	0.7%	-96.6K	3.3M	-9.0K	0.00	82.81	9	0	1,836	4,898
2020-05-22	$13.28	$15.00	38.2%	10.9%	52.2%	29.5%	28.5%	14.7%	-1.2%	-81.2K	4.4M	-6.3K	29.05	79.23	19	552	1,840	4,898
2020-05-26	$14.22	$15.00	30.8%	8.8%	57.0%	21.5%	33.3%	-5.1%	-1.8%	-162.4K	3.9M	-8.4K	0.07	96.39	160	11	1,853	5,397
2020-05-27	$14.40	$15.00	39.3%	11.3%	56.5%	30.7%	42.0%	-4.5%	-10.0%	-157.7K	3.4M	-9.0K	13.39	95.50	51	683	1,891	5,397
2020-05-28	$14.48	$15.00	34.8%	10.0%	56.5%	25.9%	35.4%	-3.5%	-3.1%	-199.3K	3.2M	-11.5K	0.22	87.51	570	126	2,014	6,065
2020-05-29	$14.49	$15.00	34.8%	10.0%	55.3%	25.8%	34.8%	0.1%	-2.5%	-179.4K	3.0M	-11.8K	2.62	85.05	92	241	2,478	6,072